Made for this moment

With the support of our generous investors, forward-looking donors, and committed partners, CCLF was prepared to tackle the challenges of 2020 head-on.

Whether we were administering and lending government funds for nonprofits and small businesses, establishing a pop-up call center, or getting more resources to community enterprises, we rolled up our sleeves and got to work.

Our 2020 Response Efforts

  • Small Business Relief Funds

    $11.9 million in government loans and grants allocated to small businesses and nonprofits

  • PPP Pop-up Virtual Call Center

    $996,672 in PPP loans secured

  • Covid-19 Resource Guide

    7,200 unique views

  • We provided 115 hours of free consultation to 110 Paycheck Protection Program applicants through our pop-up virtual call center

  • We administered Cook County’s Recovery Fund serving 558 gig workers and small businesses with forgivable loans totaling $9 million

  • We reviewed 2,211 applications for government grants and low-interest loans and ultimately approved funds for 929 small businesses and nonprofits

    State of Illinois Business Interruption Grants Program
    City of Chicago Small Business Resiliency Fund
    City of Chicago Together Now Fund

We also continued lending for affordable housing and commercial retail in a constantly changing environment.

In 2020 we...

Closed 48 loans totaling $24.2 million
Leveraged another $101 million of investments
Reached $97 million in loans outstanding

So that we could...

Create or retain 1,156 jobs
Build or retain 567 housing units
Develop or retain 679,662 sq. feet of commercial real estate and community facility space

Since our founding in 1991, CCLF has closed 544 loans totaling $253,000,000 which has leveraged a total of $1,500,000,000 in additional investment.

Portfolio

By sector at year-end 2020

  • 20% Housing Multi-family

  • 5% Housing Single-family

  • 10% Housing Cooperatives

  • 24% Commercial Real Estate

  • 33% Community Facility

  • 8% Social Enterprise

By product
at year-end 2020

  • Predevelopment 19%

  • Construction 22%

  • Permanent 12%

  • Mini-permanent 45%

  • Equipment & Working Capital 2%

Outstanding Principal Balance

At year-end 2020

  • 2016 $52,117,543
  • 2017 $58,692,314
  • 2018 $71,825,102
  • 2019 $79,039,254
  • 2020 $96,844,854

Portfolio Quality

At year-end 2020

  • 2016 Loan Loss Reserve: 5.5%

  • 2017 Loan Loss Reserve: 5.8%

  • 2018 Loan Loss Reserve: 6%

  • 2019 Loan Loss Reserve: 5.3%

  • 2020 Loan Loss Reserve: 7.1%

  • 2016 Delinquency (90+ days): 0%

  • 2017 Delinquency (90+ days): 1.3%

  • 2018 Delinquency (90+ days): 2.2%

  • 2019 Delinquency (90+ days): 1.7%

  • 2020 Delinquency (90+ days): 0.0%

  • Delinquency (90+ days)
  • Loan Loss Reserve

*Non-accruals are not counted in delinquency.